Louisville entrepreneurs look to online crowdfunding to back their startups

We're Hungry and We Have QuestionsUsing the website Kickstarter, Louisville residents have raised thousands of dollars to create a locally designed deck of playing cards, a new studio and dance theater and a smartphone app listing the menus and hours of the city’s independent restaurants.

Local entrepreneurs say these projects show the potential of “crowdfunding” — a new way to raise money for start-up businesses by pooling small contributions from backers over the Internet.

Currently, people who give money to crowdfunded campaigns do so on faith.

For example, the 68,000 people who gave a total of $10.2 million on Kickstarter for the development of a smartphone-like wristwatch have no legal assurances that the California entrepreneurs who sought the funding won’t run off with the cash.

Read More at Courier-Journal

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